- President attended the BU Spring Meeting and had meetings with US, Chinese German and French ECA delegation


■ Korea Trade Insurance Corporation (K-sure, www.ksure.or.kr, Moon Jae-do, president) announced that its president, Mr. Moon Jae-do, joined the Berne Union (BU) Spring Meeting held in Copenhagen, Denmark from May 14, Sunday. During the meeting, Mr. Moon agreed to further strengthen the mutual ties with major global export credit agencies (ECA), and sought ways to expand the scope of institutional cooperation.


* Berne Union (BU)
- The Berne Union is an global organisation of public and private sector providers of export credit and investment insurance created in 1934. As of the end of 2016, it has 82 member agencies. The Union is officially named as “the International Union of Credit and Investment Insurers” but also be referred to as the Berne Union after the name of the city wherein it was established. As of 2015, the total business volume of member agencies in the export credit and insurance business marked U$1.86 trillion, or 11% of the total global trade.


* Export Credit Agency (ECA)
- Financial institutions such as Korea Trade Insurance Corporation (K-sure) that offers guarantees and/or insurance to cover the risk of transactional default that can arise in the process of international trade or investment.


○ At a series of separate meetings with the US, Chinese and French delegations, Mr. Moon discussed pending export credit policy issues on the Paris Agreement and OECD regulation on coal-fired power generation while exchanging views on the role of ECA in enhancing the competitiveness of SMEs. Also at the meetings, the ECAs all agreed to increase the level of mutual cooperation through active project co-financing and human and information exchanges.


○ Before such an active presidential move, K-sure has already been forging strong cooperative ties with leading global ECAs of Germany, France, China, and Japan through annual bilateral meeting. K-sure, in addition, successfully hosted BU Asia-Pacific CEO/ RCG Meetings in Seoul, setting the tone of export credit trend within the region.


■ On the sidelines of the BU Spring Meeting, Mr. Moon visited the Headquarters of AP Moller Maersk, the world’s largest container shipping company, nestled in the Danish capital for a meeting with the CFO of the global shipping giant to discuss financial support measures regarding the company’s shipbuilding orders made to Korean ship builders.


■ Mr. Moon Jae-do, president of K-sure stated that “It was very impressive to see organizational innovation and flexible export credit programs pursued by global ECAs to increase their national exports and promote the growth of new industries. K-sure will also do its best to maximize the efficacy of its export support by having thorough studies on our competitors and adopting meaningful takeaways to our institutional innovation.”



* President Moon Jae-do of K-sure having a meeting with one of the participating ECAs during his attendance at the BU Spring Meeting held on May 16 in Copenhagen, Denmark.